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TakarékBank 2010 profit falls 59%

TakarékBank pre-tax profit fell to HUF 379m in 2010. Excluding the effect of the bank levy, profits would have risen about 14% to almost HUF 2 billion the bank noted.

TakarékBank had total assets of HUF 379 billion on December 31, 2011, hardly changed from a year earlier. Stock of loans rose 8% to HUF 160billion. Net assets climbed 10% to HUF 14billion.

TakarékBank outperformed the targets in the 2010 business plan, the bank said. The bank strengthened the integration of Hungary's savings cooperatives, which are the banks majority owners, through IT developments. It also introduced new products and welcomed new members during the year.

At the end of the year, TakarékBank TakarékPont network extended to 343 branches operated by 23 credit institutions.

"We continue to purse stable growth," said managing director Szabolcs Brezina.